What is a secured obligation?

Minneapolis Bankruptcy attorney Steven Silton defines secured obligation.

Contact Steven Silton

Email: [email protected]

Phone: (612) 260-9003

Transcript:

A secured obligation is an obligation secured by collateral in possession of the business. It can be a real estate mortgage. It can be an equipment lease or equipment mortgage. It can be any obligation in which there’s existing collateral in possession of the debtor.